An investor group led by Dwayne “The Rock” Johnson received bankruptcy court approval to buy the professional football league XFL’s assets for $15 million.
The approval Friday by Judge Laurie S. Silverstein of the U.S. Bankruptcy Court for the District of Delaware transfers the fledgling league into the hands of high-profile owners with experience in sports media.
Gerry Cardinale’s RedBird Capital Partners, who partnered with the Steinbrenner family in 2002 to launch the YES Network, is part of the investor group, as is Johnson’s business partner and ex-wife, Dany Garcia. The group formed the company Alpha Acquico LLC in order ...